The impact of digitalization on consumer behavior

Abstract

Over time, technology continued to evolve, creating a favorable environment for the development of digitalization. In crisis situations, such as the COVID-19 pandemic, it has served as a bridge between consumers and businesses. This paper aims to study how consumer behavior has been influenced in the pandemic through the use of different digital tools. It also highlights the uncertainty that has arisen in the context of the pandemic and how this has led to limited consumer rationality. Using data from specialized institutions, the impact of digitalization on Romanian consumer behavior in the context of the COVID-19 pandemic was analyzed. At the same time, within this study, correlations were made to better understand the results.

Keywords

• digitalization
• behavioral economics
• limited rationality
• covid-19
• technology